The executive committee of HBK voted to split leadership roles of its two entities, HBK CPAs & Consultants and HBKS Wealth Advisors, giving each its own top executive, the firm said on Aug. 26.
Christopher Allegretti, HBK’s CEO and managing principal since 2004, will remain in those roles for HBKS Wealth Advisors, while Thomas Angelo will oversee HBK CPAs & Consultants as its CEO and managing principal. In addition, Jeremy Hartzell will join Angelo’s executive team as chief operating officer of HBK CPAs & Consultants.
The leadership changes take effect on Sept. 1, 2024.
Allegretti joined HBK in 1984 and was named a principal in 1994. As managing principal and CEO, he has focused on enhancing the quality and depth of the firm’s services, ensuring that its investment in people and resources is focused on client goals and that services are rooted in a commitment to long-range planning and superior client service.
In 1999, Allegretti co-authored the firm’s strategy to develop its wealth management firm, culminating in the establishment of HBKS Wealth Advisors. His vision for the firm includes maintaining its reputation and distinction as professionals of superior knowledge, experience, and dedication to the highest level of client satisfaction.
“Our growth has created a need for more leadership, and we are fortunate to have attracted professionals who are also great leaders,” Allegretti said in a statement. “We regularly move deserving people into leadership roles, and they pay us back by exercising and enhancing those skills. Tom and Jeremy are uniquely qualified for their new roles, and we look forward to their impact on our firm and how we serve our clients by providing forward-looking, anticipatory, and relevant services.”
Angelo has been overseeing HBK’s Mid-Atlantic Region out of his offices in Holmdel, NJ, and is a member of the firm’s executive management committee. He has more than 25 years of experience providing tax, accounting, and consulting services to high-net-worth individuals, family-owned enterprises, and exempt organizations. He works with family businesses and nonprofits on organizational issues, including succession planning, mergers and acquisitions, and process improvement. Angelo has also worked with many companies on developing their technology plans, as well as implementing new ERP systems and other technologies to foster growth, and he manages Vertilocity, the firm’s technology practice.
“We’re transitioning from a firm that has leveraged relationships and referrals to secure compliance work to one that leverages expertise and tangible experience to provide advisory services,” Angelo said in a statement. “It’s how we will remain relevant in our markets, how we will provide value to our clients. That will require commitment throughout our community of professionals. I have to take the time and energy to be in the marketplaces to understand how we fulfill our role as advisors in our markets. I have to see it and get our team to see it and be involved.”
Hartzell is principal-in-charge of the HBK Pittsburgh office. He joined HBK in February 2015 and previously spent more than 13 years at Deloitte. He has specialized in working with high-net-worth individuals, including estates and trusts, in tax planning for individuals and privately held companies, and in the tax aspects of mergers and acquisitions, including planning, structuring due diligence, and document review. He has also done extensive consulting with nonprofits on tax, corporate governance, entity formation, and mergers.
“As COO, I will work to create uniform standards that reflect the best ideas of each of our team members,” Hartzell said in a statement. “I am ready to help Tom and the rest of his leadership team from day one. I’m committed to making a difference for our firm, our people, and our clients. I want to be Tom’s partner as he embarks on this new challenge and opportunity, and I know we will work well together.”
HBK specializes in working with small to mid-market businesses and their owners and operators. The CPA firm dates back to 1949 and added its wealth management practice in 2001. HBK has expanded over the years and currently operates out of 16 offices in five states. It is the 46th largest accounting firm in the U.S. based on revenue, with $153.9 million during its most recent fiscal year, according to INSIDE Public Accounting. HBK employs more than 700 professionals.
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Tags: Accounting, Advisory, Firm Management
